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Trailing Stop with a Twist
Last Activity 10/14/2018 9:04 PM
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DanielO

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Posts: 4

Joined: 2/3/2014
Location: ZA

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Subject : Trailing Stop with a Twist
Posted : 2/9/2014 4:23 AM
Post #22684

Hi All,

Can someone help me with code for a Trailing stop in OT Pro?
I've been struggling with it for a while now in Omnilanguage, but to no avail.

Lets say i have a long signal,

1)Then at first the stop loss is set to be a close of a candle below the low of the candle in which the long signal was generated.
2)Then if the Price moves in my direction by 30 Points, a fixed stop should be set at my entry price,
3)if price moves further to 60 points up,then the stop should be trailed to 30 points profit,
4)if price moves up to 100 points then the stop should be move to 70 points profit.
5)From there the stop is moved up by 50 points for every 50 Points that Price moves up,
Until the price is up 300 points in my Favor.
6)Thereafter i make it tighter and trail the stop by 50 points for every 20 points that price moves up in my favor.

(It works the same for shorts, but obviously just the other way around.)

I've been trading Futures like this and it would be great if i could Optimise the increments and maybe see if other values work better?
but to do that, i need to Create a system in OT Pro first.

Can someone please help with code for something like this ?
OR
Just tell me how to do it ?

Thanks.
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Jim Dean

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Joined: 3/13/2006
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Subject : RE: Trailing Stop with a Twist
Posted : 2/9/2014 4:33 AM
Post #22685 - In reply to #22684

Daniel

Check your private mail.
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